Chardan Capital Issues Pessimistic Outlook for OBIO Earnings

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Analysts at Chardan Capital dropped their FY2024 earnings per share estimates for Orchestra BioMed in a report issued on Wednesday, November 13th. Chardan Capital analyst K. Nakae now forecasts that the company will post earnings of ($1.67) per share for the year, down from their previous estimate of ($1.60). Chardan Capital has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Orchestra BioMed’s current full-year earnings is ($1.67) per share. Chardan Capital also issued estimates for Orchestra BioMed’s FY2025 earnings at ($1.99) EPS.

A number of other research analysts have also recently weighed in on OBIO. B. Riley started coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They set a “buy” rating and a $15.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research report on Friday.

Orchestra BioMed Trading Down 0.2 %

Shares of OBIO opened at $5.83 on Monday. Orchestra BioMed has a 12-month low of $4.22 and a 12-month high of $11.69. The stock has a market cap of $221.60 million, a P/E ratio of -3.62 and a beta of 0.42. The company has a 50-day moving average of $5.42 and a two-hundred day moving average of $6.27.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.03. The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OBIO. RTW Investments LP increased its position in shares of Orchestra BioMed by 46.0% in the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after acquiring an additional 2,585,519 shares in the last quarter. Geode Capital Management LLC increased its holdings in Orchestra BioMed by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock valued at $2,916,000 after purchasing an additional 11,002 shares in the last quarter. State Street Corp raised its position in Orchestra BioMed by 12.4% in the third quarter. State Street Corp now owns 429,613 shares of the company’s stock valued at $2,208,000 after purchasing an additional 47,308 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Orchestra BioMed by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after purchasing an additional 8,107 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Orchestra BioMed by 115.7% in the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after buying an additional 37,906 shares during the period. 53.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Darren Sherman sold 6,804 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $5.48, for a total transaction of $37,285.92. Following the completion of the sale, the insider now owns 772,691 shares in the company, valued at approximately $4,234,346.68. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 24,260 shares of company stock valued at $138,573 in the last ninety days. Company insiders own 6.70% of the company’s stock.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.